Please find a selection of frequently asked questions about the Radarhomes agent owned property portal below. If your question is not answered, do not hesitate to Contact Us.
General
What is Radarhomes?
Radarhomes is a property website, advertising homes for sale and to rent on behalf of property agents nationwide. The portal is owned in majority by its member firms.
What does ‘agent owned’ mean?
‘Agent owned’ means that the member firms hold voting right shares, collectively holding the majority.
What regions does Radarhomes operate in?
Radarhomes is made up of 5 regions, South West, South and East, Midlands and West (including Wales), North and Caledonia (Scotland). All the regions are separate Ltd companies, owned in majority by their member firms.
What are the benefits of joining?
Radarhomes has been set-up to provide property agents a national portal for which they have a majority shareholding. This will ensure that the member agents have input into how the portal is run and the charges it makes for membership. Radarhomes also aims to retain control of the data that is currently given away to non-agent owned portals. In the future, this data will be monitised so the profits go back to the member agents, after all, its the agents that provide the data in the first place. To find out more reasons for joining, take a look at our Proposal Document
How do I join Radarhomes?
Please Contact Us
How does the agent committee work?
Each region will have an elected committee made up of around 10 member agents. Each regional member will have the opportunity to put themselves forward as a candidate. The membership in that region will then vote on who they want to sit on their committee. The committee will sit with the board of Radarhomes on a quarterly basis to provide input; having a genuine say on how Radarhomes develops in the future.
Membership
How much is it to join?
£45 plus VAT per branch per month.
Is the subscription charge capped?
The subscription charge can only increase by a maximum of 5% plus inflation in any one year.
Is there a notice period?
Either party may terminate their agreement at any time after the initial period by giving not less than one months written notice to the other.The initial contract term is for 12 months from the date of membership.
Please remember Radarhomes is a joint venture owned by the agent collective so why would you want to leave?
Shares
How many shares are available?
Each regional Limited company is made up of 10,000 shares
How much do the shares cost?
£100 each
How many shares can I buy?
You can buy anything from 1 share to 500. The share purchase is limited to 500 per firm, which equates to 5% of the overall company. This has been designed to stop a single firm taking a controlling share.
Can anyone buy shares?
Shares can only be purchased by member property agents, and only within the region they operate in. If an agent operates in two or more regions, that agent may purchase shares in those regions of operation. The agent can purchase up to 500 shares (5%) of each region, subject to availability.
The Radarhomes network involves membership for local estate agencies on a regional basis as its key unique selling point and in order to apply for membership you must, as a minimum, be a local property agent who wishes to join us in this combined effort (or joint enterprise) to develop an agent owned property portal in your local area. It is to be noted that the arrangement will not comprise an offer of securities to the public – this is a matter of private concern between local property agents only.
Property Uploads
How long does it take for my properties to upload?
This depends on your software provider, but on average 3 to 4 days
Do you offer a manual upload facility?
Yes we do. Full training on the facility is also provided.
Can Radarhomes take the property listings from my site and upload them automatically?
Yes we can.
